By

John Scibal
When Valuing  Small Businesses When valuing  small businesses, including owner-operated optometry and medical practices, arguably the most important item is Seller Discretionary Earnings (SDE). It is defined as the Net Income as reported on a tax return + Interest Expense +Depreciation Expense + Amortization Expense + Owner’s Compensation + Owner Perks. Basically it is what...
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I’m big on office meetings. Really big. Last year I wrote a blog on 7 Reasons You Should Have Office Meetings. But I only like them when they’re done right. Here’s 7 things you can do if you want to render an office meeting completely unproductive, and hated by you and all your staff members....
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Did You Ever Think About Owning Your Office Building? Are you paying rent? Did you ever think about owning your office building? Whether it be a self-standing building, or space in an office condominium, at some point most of us think about owning our own space. So – should you? Seemingly, like every other article...
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It Seems To Me Everywhere I look I hear about how everyone should go to the “medical model”. Honestly, I’m not sure exactly what that is. It seems to me everyone thinks they’re doing it, but no one is doing it the same way. And I get the importance of providing medical services, especially in...
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Often times the sale of a practice boils down to financing. The good news is that, in my experience, for a practice with good cash flow and that is priced correctly, there are banks willing to finance 100% of the purchase. Unlike Loaning Money For A Car Or A House, There’s No Real Collateral Sometimes,...
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Here’s A Technique To Provide Efficient Clinical Care And Increase Your Bottom Line In a survey,  the AOA asked consumers how long they’d wait for an eye doctor appointment after having lost or broken eyeglasses, 40% said they would wait one day before seeking an appointment from another eye doctor, 24% said one week, 5%...
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Ten Years Out – 6 Things You Can Do Now I recently appeared on a blog by Nate Bonilla-Warford about how to prepare for selling your practice. Practitioners often find themselves in a position where they are ready to retire but can’t find anyone interested in buying their practice. They end up closing their doors...
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Will It Be Enough? When planning your retirement, where does your practice sale come in? You’ve worked your whole life building it. Now that you’re ready to walk away, how much is it worth? Will it be enough to retire? Let’s use an example and find out. Assume you are 65 and want to retire...
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In Part One I stated that optometry is a great profession, and it can pay your bills, but passive income is what allows you to become independently wealthy.  The trick is to have the discipline to take some portion of your take-home from optometry and invest it where the  money can grow passively. Of course,...
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Can You Afford It? How Much Is Enough? Are you thinking about retiring from Optometry? Can you afford it? How much is enough? Rather than give you a number on how much you need to retire, let’s just talk about some general financial facts about optometry, and retirement. I Prefer The Following Definition We hear...
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